Invesco Oppenheimer Correlations

INGFX Fund

USD 32.42 0.29 0.89%

The correlation of Invesco Oppenheimer is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco Oppenheimer Correlation With Market

Good diversification

The correlation between Invesco Oppenheimer Internatio and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Oppenheimer Internatio and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Oppenheimer International. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Invesco Mutual Fund

0.74	AMHYX	Invesco High Yield	Pair Corr
0.75	OSICX	Oppenheimer Strategic	Pair Corr
0.91	OSMAX	Oppenheimer International	Pair Corr
0.91	OSMCX	Oppenheimer International	Pair Corr
0.72	HYIFX	Invesco High Yield	Pair Corr
0.73	HYINX	Invesco High Yield	Pair Corr
0.82	ILAAX	Invesco Income Allocation	Pair Corr
0.86	PXCCX	Invesco Select Risk	Pair Corr
0.64	BRCRX	Invesco Balanced Risk	Pair Corr
0.68	BRCNX	Invesco Balanced Risk	Pair Corr
0.83	PXCIX	Invesco Select Risk	Pair Corr
0.64	BRCCX	Invesco Balanced Risk	Pair Corr
0.65	BRCAX	Invesco Balanced Risk	Pair Corr
0.65	BRCYX	Invesco Balanced Risk	Pair Corr
0.83	EMLDX	Invesco Emerging Markets	Pair Corr
0.82	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.66	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	STBYX	Invesco Short Term	Pair Corr
0.73	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	TIMXX	PCUXX	FCSCX	MCHXX	TWACX
TIMXX		0.0	0.0	0.0	0.0	TIMXX
PCUXX	0.0		0.0	0.0	0.0	PCUXX
FCSCX	0.0	0.0		0.0	0.98	FCSCX
MCHXX	0.0	0.0	0.0		0.0	MCHXX
TWACX	0.0	0.0	0.98	0.0		TWACX
	TIMXX	PCUXX	FCSCX	MCHXX	TWACX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TWACX	+ 0.98	FCSCX
PCUXX	+ 0.0	TIMXX
FCSCX	+ 0.0	TIMXX
MCHXX	+ 0.0	TIMXX
TWACX	+ 0.0	TIMXX
FCSCX	+ 0.0	PCUXX

High negative correlations

TWACX	- 0.0	MCHXX
MCHXX	- 0.0	FCSCX
TWACX	- 0.0	PCUXX
MCHXX	- 0.0	PCUXX
FCSCX	- 0.0	PCUXX
TWACX	- 0.0	TIMXX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Oppenheimer Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Invesco Oppenheimer's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TIMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PCUXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FCSCX	0.06	0.01	0.45	0.90	(0.19)	0.13	(0.13)	0.66
MCHXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TWACX	0.09	0.01	0.49	(0.28)	(0.14)	0.22	(0.11)	0.45

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